CoinDCX launches CoinDCX Ventures to deploy Rs 100 cr in Web3 ecosystem

economictimes.indiatimes.com:

CoinDCX has launched its investment arm named CoinDCX Ventures to fund early-stage crypto and blockchain startups in India. The exchange is planning to deploy Rs 100 crore in accelerating India's digital asset ecosystems. The company has already invested roughly about 10-15 per cent for their funds in more than half a dozen startups and is planning to allocate the remaining portion over a period of 12 months, taking the count close to 40-50 startups. CoinDCX Ventures has already made several investments in the space including a wallet solution, cross chain bridge protocol, Web3 notification protocol, Web3 social engine, as well as distributed storage and computing protocol.

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Launched in 2018, Coin DCX is among India’s largest and most valuable crypto companies with more than 12.5 million users on its platform. The exchange is aiming to fund crypto ventures across sectors with a concentrated portfolio approach at an early stage. The investments arm is focussing on key sectors such as investing infrastructures, investing products (DeFi of CeFi), infra layer development, development tools and web3 applications. «The exchange will also be helping with growth strategies and distribution, helping build community and connect with key influencers, make available best practices in HR and also, it’s legal and compliance

as and when required,» it said. Sumit Gupta, CoinDCX CEO and Co-Founder, said, «This is an immense leap forward for CoinDCX as we continue to chart the way forward and shape